Does anybody understand debt? Some - but not many. Today's post is less of my normal extended prose and more of an outline. I've been invited to speak at some writing classes here at the college and this is intended to serve as my speaking notes. Background: What have you heard? Krugman in New York … Continue reading Does Anybody Understand Debt?
As those readers who visited this blog earlier today on Jan 18 know, I took this site "dark" in solidarity with the anti-SOPA/anti-PIPA protests. Yes, I'm back now. But I'm angry. And you should be angry too. I'm angry because the SOPA/PIPA bills in Congress are nothing more attempts by a privileged few large corporations … Continue reading Why I Went Dark and Why It Matters
One of the core lessons that I try to get across in my introductory Comparative Economic Systems classes is that economic systems are complex. Reality is much more complex than either simple theory or ideology. Countries simply cannot be easily categorized with simple labels such as capitalist, socialist, or communist. Those labels usually obscure more … Continue reading Mr. Daisey Goes to the Apple Factory – A Lesson in Comparative Economic Systems
Yesterday I said I was reluctant to get over-optimistic about the recent slight upturn in employment data. This year may truly be different from the last few, but there's a nagging feeling that we've seen this movie before. I'm not alone in the feeling. As 2012 dawns, Tim Duy summarizes the problem in one graph (emphasis … Continue reading The Problem in One Graph
Well I'm back. Yes, it's been a longer than expected break from blogging driven by work considerations, but contrary to the rumors, I have not been "doomed". So it's on to a new semester and a new resolution to post frequently. I hope 3-5 times per week. To start things off, yesterday was the first … Continue reading Setting the Bar Very Low: The Unemployment Report for December 2011